Not necessarily. A rival or competitor would make the investment in our economy, real estate, investments, banking, etc. to hold onto a influential portion for if the time came that a dispute arose, they could dramatically influence and damage the enemy without having to fire a shot. Results gained would be worth more than the investment lost. This is the future of wars. Why do you think we print Iraq's money in Virginia? If they ever decide to turn on us (the government we created), we can topple their economy overnight. Countries can recover from bomb blasts and craters. Not so much from a total systemic shutdown.

the bail out plan was just rejected.

http://money.cnn.com/2008/09/29/news...ex.htm?cnn=yes

We're all fooooked.. I'm moving to Switzerland :nod:

Hold on to your butts.

Crap. DJIA down 600....

It dropped like 400pts in a matter of 10 minutes after the House shot down the bill.

There is a big article on the cover of the WSJ today on how the non-bailout of Lehman caused a tremendous ripple effect that made everything worse.

I think we needed this to pass. But I think a lot of house members capitulated to the mass of complaints from voters about 'no bailout' even though the typical voter has no idea about the details involved. Most still think we gave AIG $85MM free & clear.

Ah well, we're screwed either way.

Yep, except this way we are screwed a little faster...

The Dow industrials close down 656.70 points, or 5.9%, to 10486.43

What are we down in total over the last week? Like 2000 points right?

Correction: The Dow industrials close down 777 points, or 6.98%

Worst point drop in history.

I'm so buying stocks tomorrow.

In what?

I think the market & the housing market have another 10-20% to drop....

OK for those who are new at this ( and i am not being a smart ask ) oil went into the dumper meaning gas prices will drop way down - TODAY - and those in the know do not want a bail out - a loan to the crooks would be better BUT that means they would have to pay it back - the political bull on TV ( The goonie BOX ) is all bull the drop today is a scare to make all think the world is n=ending and its not - billions and billions are foreign money and the same people who BTW vote against us in the UN soooo it is really in our interest to not do this and let the cards fall - all those who have stock in the banks they work for already lost it as well as their shair holders in the failiers sooo who is it they are saving on MAINt stree themselves maybe ?????????? YEOP its already gone all of it -- it comes from a deal struck 12 years ago TO those who were awake it was to help first time home buyers +++++ remember that line +++++ well they wrote bad paper ever since < meaning loans to people who could not pay it back AND the HOOK in this is if they do pass it guys like me who have paid a morgage 28 out of the 30 years means nothing because if the deal as it is is passed all of these bad paper loans as they are called, will be on my and your tax dollars when those people dont pay them off and the goverment walks away and you and i foot the bill dont believe all you rear on the bubbie screen WE really dont want it to happen and of course its my take i am sure someone will see it different for sure -- jz

Thats what government is... All of the people who dont screw up and are responsible have to pay to bail out all of the morons who screw up all the time.


Get used to it. It happens all of the time.

Still deciding. Banks look alittle risky but with a big enough pay off down the road cause they are so low and they can't suck this bad forever.
You have any ideas?

Heeellll ya. Me n my brother had a conversation about this today actually. You just have to find the right place to invest and forget it.

Btw, am i the only one kinda worried about GM possibly going under? Apparently they've run their credit dry. No line of credit available and their credit rating is expected to go down even more. Im no economist and i dont want to pretend to be but is there some potential danger in this for GM in the near future? Does anyone know more about this situation with GM?

Right now is tough, and I've been thinking about it for a week now. The thing is, in past economic down turns, the sector that was performing badly was avoided and investments made in other areas, like when the tech sector went south in the late 90s, you could go over to investments and real estate. No matter what, you always had the financial infrastructure to back up other sectors. Now, it's the infrastructure itself thats failing. It's hard to say what area will be prosperous when the financial backing for everything is going under. Maybe larger military contractors like Lockheed and Northrop? It all depends what big projects are on the horizon. Oil? Depends on how many jobs are lost in this and the steep drop in demand. I'm sure a lot of people will now be going after the low risk investments like bonds and such, but too much invested in bonds will lower the yield.

The first question is how are you going to buy stocks? Do you have an investor? Do you have an account with anyone? To decide that, you need to figure out how you plan on managing your account. Are you going to buy long term investment stocks with mild risk, or buy and sell high risk stocks very quickly? You can make a killing buying and selling stocks all day if you have the means to do it. A good example is that if you had $2800 to invest in AIG the day Lehman fell, and you bought 1000 shares of AIG stocks when they bottomed out around 2.80/share, then flipped them later that day when the word was that the gov would help them, you would have made an investment of $2800, and a return of $10500. Thats an almost $8000 profit in just a few hours, and only having to either click your mouse a few times, or be on the phone with your investor for a few minutes. Not too shabby. The only thing is a lot of places require a significant initial investment on your part. When I opened my ETrade account back in like 2000, they wanted I think $10k just to open the account. There's an initial up front cost to get into trading, but if you know whats going on and have a good head for planning, you can make a killing. Dont be too optimistic though, you can also lose everything. Balancing your portfolio with various risk level investments is the best way to make money in the long term.

what he said above is very true -- a young kid who had worked for us came into a big chunk of cash when his dad passed away and instead of leaving it alone he started DAY trading -- with in a year and a half he lost all of it and i am talking 7 figures - if you do not have real experence with making money with other peoples money dont try it -- jz

here you go:

http://money.cnn.com/2008/09/29/news...ion=2008092918

FED just announced that they'll guarantee the core value of money market accounts. They'll guarantee they wont fall bellow $1/share. If you can get in on them in bulk when they bottom out @ $1/share, the only place you can go is up.

EDIT- just read that the insurance is only covering pre-existing accounts. oops.

ok, just checked the global markets. Places not to buy getaway hideout-

Belgium down 8%
Netherlands down 9%
Germany down 7%
Norway......




... the only country in the world that made money today.


Time to look into real estate in Norway. I wonder if I can get one of those fancy new Pick-A-Plan mortgage deals there :rofl:

lets go.